Since he's not a computer maven, he'll need a super user-friendly chart-labeling program for his work. Any suggestions?
Sure. Here is an example of how I taught a computer to read a chart. Since computers are stupid and only follow directions, (they can't think, at least not yet) they can only be 100% objective in their actions.
Here is the results of my crude oil chart over the last year as well. This is how we determine which trades to take when they appear on the chart. These include slippage and commission as well.
That's all well and good, but it still seem very ambiguous to me. One really needs to see the labeling program work in real time to ascertain its worth. I have a similar program built into think or swim platform. It draws little arrows were you are suppose to go ling or short. It looks really great until you realize the little arrows show up several minutes after the move. Basically worthless, but looks valuable in hindsight. Waiting to see it work in real time program promised-- the posted charts have no value for real traders but perhaps for historic significance? Surf
Now you are answering for Rodney? Nothing ambiguous about an objective program. You can't see the rules that trigger the trades for a reason. Even when you get the program itself that won't be available to you. You will see the entry, exit and reversal labels. Nothing more. What you are going to get is a day trading program so it will require "someone" to monitor it during RTH. That is why I'll be posting the exact same chart you (or one of your heavy math people) will be watching on ET for each trade so you can't say after the test period that it didn't work. If you bother is look at the spreadsheet you will see the value to "real traders". This spread sheet reflects the trades taken in a slow intraday environment. This information is a reflection of taking all of the computerized trades as they are reflected and posted in real time on the chart for a year. It isn't outrageously or unrealistically profitable ($26K per year per contract). It isn't outrageously or unrealistically accurate (approximately 63%). What it is, is outrageously safe and for a day trader that is outrageously wonderful. The way a day trader makes more money is to trade more contracts based on HIS OWN EXTENDED PERSONAL experience and success using the program. THAT is common sense. I stated in a previous post yesterday that the program would be ready in a few weeks so your continued "waiting" comments are like the 5 year old in the back seat saying, "are we there yet" every 5 minutes. We already know you have no patience. There is no reason to belabor the point. I posted the chart and spread sheet for Rodney not you . . . unless you are related to him or are him there isn't much more to say?
I'm not answering for Rod. I am answering since I have been the one charged with determining the value, function, novelty and purpose of this product. With this said, what's the purpose of the chart? Why not distill it down to red light green light buy sell signals without the chart? Charts only add to ambiguity, I don't get why a person or computer would need a chart. The signals are all that you need---- unless the chart serves it's purpose of ambiguity to confuse and sell the product. Surf
You are, by your own admission, a failed day trader. This being said you are not one to understand the psychological aspects and benefits to a trader of being able to "see" the trade set up play out BEFORE the trade label appears on the chart. Like Pavlov's Dog, condition and response. When a trader sees the same results from the same set ups (strength & price direction) over and over and over and over again, at some point they have their epiphany and learn to "trust what they see, not what they think". I know this is totally opposite of what you believe but I've programmed this exact concept based on my charting with wonderfully consistent results and the results of your opposite concept is total inconsistency at best. I know I'm "just saying this" but soon you will have someone (I hope you trust) validate this for for you.